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Meaning of “balance of trade” in the English Dictionary

"balance of trade" in Business English

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balance of tradenoun [singular]

uk   us   (also trade balance, also visible balance)
ECONOMICS the difference between the ​money that a country receives from ​exports and the ​money it ​spends on ​imports: Official ​figures yesterday showed the ​balance of ​trade in ​goodsplunged to a ​recorddeficit. balance of ​tradedeficit/​surplus adverse/favourable ​balance of ​trade
(Definition of balance of trade from the Cambridge Business English Dictionary © Cambridge University Press)
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